Savings and Investments
 

Meow this is probably one for you or any other financial geniuss.

I've finally got to the point where I'm on top of my finances, all debt paid off, and savings starting to look healthy. First time in 34 years so a bloody big HOORAH!!! :thumbsup:

So what to do with my money? I currently just have a saving account in the UK with natwest which to be fair isn't doing a great ammount for me. So what would be the best thing to do with my money- in simpleton terms please? I'm not talking massive ammounts but it will be significant enough to me as I add to it over the next few years and I'd like it to work as hard as it can for me. My understanding is that you can't start an ISA as an expat- So any tips?

Also I want to start a couple of bank accounts for my nephews that I can pay into but they won't have access til they turn 18, or can you start an isa for kids or anything else that would be an interesting place to put the money for 15+ years for them?

I absolutely don't have a clue what to do with it and to be honest alot of the financial stuff on here looses me quite quickly as the only thing I've ever had to do with money in the past is worry about where its coming from- I've never been in the position before to have extra! Long term I'll be using this as a house deposit in approx 3 years time so I'm not looking for long term investments- just what to do with it for 3ish years or so. Any chance of an idiot proof guide?

Your help as ever is much appreciated.

thanks

kittycat
xxx

Re: Savings and Investments
 

I would need quite a lot more information to even start giving you any proper advice. It's a bit more complicated than just 'do this' or 'do that'. :)

We'd need to have a proper chat, particularly taking into account how long you are likely to remain UK non-resident for tax purposes as that makes a massive difference to what you should do.

Mind you if you want the money in three years, you ought probably to keep it on deposit. It's too short a period for equity linked investment.

x

Re: Savings and Investments
 

Based on that I'd suggest avoiding the equity markets right now as Meow also suggested.

Capital protected products with fixed returns might suit you more as you don't want to be taking risks with money you're saving to buy a house. We can recommend a number of products which fit a three year or less term but obviously I'm not going to give any kind of proper advice over the forums.

I'd suggest contacting myself or Meow or any other reputable adviser and sitting down to chat about this in more detail.

N.